According to the transaction, Buffalo Wild Wings’ total assets to be acquired consist primarily of 38 existing Buffalo Wild Wings® restaurants. These restaurants are located in key areas in the states of Texas, New Mexico and Hawaii. Aside from these, 3 Buffalo Wild Wings restaurants under development in New Mexico and Hawaii are also part of the deal. The total purchase price for the assets is approximately $160 million.

Buffalo Wild Wings is an American dining restaurant and over the years it has evolved from serving the most popular wild wings menu to a more casual dining atmosphere. It is now a sports bar franchise that is not just found in the US but also in Canada, Mexico and in the Philippines.

The acquisition of the restaurant branches are subject to negotiation and execution of a final purchase agreement and certain regulatory approvals, including a filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. After the purchase agreement has been executed, the transaction will be closed but the end of the third quarter of the year.

Sally Smith, President and Chief Executive Officer, commented: “We believe that the acquisition of these Buffalo Wild Wings locations will provide our shareholders with additional long-term net earnings growth. In the transition to company-owned locations, we anticipate incurring $5 million in one-time expenses. Updates to the timing and financial impact of the acquisition will be provided in our second quarter earnings announcement in late July 2015. We are excited to acquire these well-run locations.”

About Buffalo Wild Wings

Buffalo Wild Wings is an American casual dining restaurant and sports bar franchise in the United States, Canada, México and The Philippines. The house specialty is spicy chicken wings and delicious sauces. The franchise has become a popular venue for watching live sporting events.

Jim Disbrow and Scott Lowery founded Buffalo Wild Wings. The two came up with the idea one weekend when they got together in Kent, Ohio. Disbrow was to judge an amateur figure skating competition at Kent State University in 1980. The two have decided to open up their own restaurant in Columbus, Ohio, and then in Westerville, Ohio.

Originally called Buffalo Wild Wings & Weck, from which the abbreviation bw-3 was created. It was in 1990 when Buffalo Wild Wings & Weck began to franchise. As of February 2015, the restaurant had 1070 locations (485 directly owned by the company, and 585 franchised locations) across all 50 states in the US. An alternate nickname in recent usage by the company is B-Dubs. The corporate headquarters was located in Cincinnati, Ohio until 1997 before moving to Minneapolis, Minnesota. In 2010, the Buffalo Wild Wings company announced an expansion into Canada. In February 2012, Buffalo Wild Wings reported $495 million in total assets. Buffalo Wild Wings stock market evolution: http://www.marketwatch.com/investing/stock/bwld

About Alamowing Development, LLC

Alamowing Development, L.L.C. filed as a Domestic Limited Liability Company (LLC) in the State of Texas. Alamowing Development, L.L.C. also lists another corporation as a key member of the company. Alamowing Development, L.L.C. serves as Manager.

About Sally J. Smith

Sally J. Smith is President and Chief Executive Officer of Buffalo Wild Wings, Inc. Sally Smith was born in Sioux Falls, South Dakota. She graduated from the University of North Dakota in 1979, with a degree in Bachelor of Science in Business Administration and Accounting. Smith has experience with KPMG Peat Marwick. She was with the company for 11 years at their office in Dahlberg, Inc. Smith’s last post was Chief Financial Officer. Smith started working at Buffalo Wild Wings in 1994 as the Chief Financial Officer. She was promoted two years after as President and CEO in 1996. Buffalo Wild Wings then had only 70 locations. Sally Smith played a vital role in the development and growth of Buffalo Wild Wings and while she has been at the company, it has expanded from 35 locations in 1994 to 751 as of March 2011. She has also served as chair of the National Restaurant Association. Smith is the daughter of Dick Wold, who was the leader of First National Bank of Grand Forks, which is now Alerus Financial.

Ocwen Financial through Ocwen Loan Servicing, LLC and Nationstar Mortgage LLC, an indirectly-held, wholly-owned subsidiary of Nationstar Mortgage Holdings Inc. Collectively “Nationstar”) have agreed to the sale by Ocwen of residential mortgage servicing rights on a portfolio that has approximately 142,000 loans owned by Freddie Mac and Fannie Mae. This is through a total principal balance of approximately $25 billion. This acquisition is subject to a definitive agreement, approvals by Freddie Mac, Fannie Mae and FHFA and other customary conditions. The two companies have agreed to close the transaction before the middle of the year.

“This transaction, on top of the one announced in February between Ocwen and Nationstar, furthers our announced corporate strategy and demonstrates the strong working relationship we have developed with Nationstar,” said Ron Faris, Chief Executive Officer of Ocwen.

“This transaction builds upon our strong track record of portfolio acquisitions while serving the needs of homeowners, and we look forward to expeditiously closing and boarding this portfolio,” said Jay Bray, Chief Executive Officer of Nationstar. “We will continue to work cooperatively with Ocwen as they evaluate the sale of additional agency portfolios and look forward to continuing discussions with all counterparties.”

Ocwen will sell an additional $25 billion of servicing rights on agency loans to a subsidiary of Nationstar Mortgage Holdings Inc; this is the fourth deal of the mortgage company in just two months. These activities show the strength of Nationstar in portfolio acquisitions as well as the ability to provide the best option for companies. Nationstar has a strong record of acquisitions yet still it maintains its high level of relationship with homeowners and customers.

Ocwen’s shares fell 6 percent to $8.31 in premarket trading on Tuesday. The company has decreasing its operations since regulators questioned its servicing standards last year. Ocwen was able to sell about $90 billion of servicing rights since February. Ocwen representatives had said earlier this month that it will be raising around $550 million through the sales of its servicing rights on agency loans of about $55 billion. Ocwen and Nationstar also mentioned that they expect the transaction to close before the middle of the year. This is subject to approvals by government agencies. More information about this portfolio acquisition by Nationstar will be provided by representatives starting by the middle of the year.

About Ocwen:

Ocwen Financial Corporation is a provider of residential and commercial mortgage loan servicing, special servicing and asset management services. Ocwen main office is in Dunwoody, Georgia; Ocwen is licensed to service mortgage loans in all 50 states, the District of Columbia and two U.S. territories. Ocwen has been providing residential mortgage loans since 1988 and subprime mortgage loans since 1994.Ocwen market evolution: http://www.reuters.com/finance/stocks/overview?symbol=OCN.N

About Ron Faris

Mr. Ronald M. Faris, also known as Ron, has been the President of Ocwen Financial Corp. since March 2001 and its Chief Executive Officer since October 28, 2010. Mr. Faris serves as President and Chief Executive Officer at Ocwen Loan Servicing, LLC. He served as a Director at Ocwen Federal Bank FSB since March 2001. Mr. Faris holds a Bachelor of Science in Accounting from Pennsylvania State University.

About Nationstar Mortgage

Nationstar Mortgage is a leading residential mortgage services company that provides quality solutions to customers. Nationstar is headquartered in Dallas, Texas. It offers servicing, origination, and transaction-based real estate services. Nationstar is considered as one of the most prominent when it comes to mortgage servicers with a servicing portfolio in excess of $375 billion and over 2 million customers. In 2013, Nationstar acquired Greenlight Financial Services, a leading direct-to-consumer loan in television, radio and other media. Nationstar stock market evolution: http://finance.yahoo.com/q?s=NSM

About Jay Bray

Mr. Jay Bray has been Chief Executive Officer of Nationstar Mortgage Holdings Inc. since 2012. Mr. Bray serves as Executive Vice President and Chief Financial Officer of Nationstar Capital Corporation. He served as the President at Nationstar Mortgage Holdings Inc. from October 7, 2011 to February 27, 2012. He has managed the Asset Backed Securitization process for NationsCredit and EquiCredit originated products, at Bank of America. His responsibilities included developing and implementing a secondary execution strategy and profitability plan, managing investment banking relationships, secondary marketing operations, investor reporting and investor relations. Mr. Bray is also a leader in the portfolio acquisition pricing and modeling group, acquiring over $9 billion in non-conforming product in 1999 – ranked No. 1 in sub-prime acquisition by B&C Lending magazine. Mr. Bray serves as a Director of Nationstar Mortgage Holdings Inc. and Nationstar Capital Corporation. He holds a B.A.A. from Auburn University in 1988.